“The Nasdaq’s decision to cut its Apple weighting could present a big buying opportunity for investors, said analyst firm Ticonderoga Securities,” James Rogers reports for TheStreet.
“‘We would be buyers of the stock on any re-balancing weakness,’ wrote Ticonderoga analyst Brian White in a note released on Tuesday,” Rogers reports. “He also added that strong iPad 2 sales highlight the company’s ongoing momentum.”
Rogers reports, “Ticonderoga’s White explained that Apple shares have been battling headwinds including concerns about its Japanese supply chain, Steve Jobs’ health, the timing of the upcoming iPhone 5 launch and now, the Nasdaq re-balancing. ‘As these concerns subside and investors again focus on the fundamentals surrounding Apple’s business, we believe the stock will reach new, all-time highs as the year progresses,’ said the analyst.”
MacDailyNews Take: We have the “AAPL hits all-time high” template at the ready as always.
Rogers reports, “Apple’s weighting in the Nasdaq-100 will be reduced to 12.33% from its current weight of 20.49% on May 2, according to a statement released Tuesday by the Nasdaq OMX. The Nasdaq said that the change will bring the company’s weighting closer to its market cap. Apple will remain the largest component of the index.”
Read more in the full article here.
[Thanks to MacDailyNews Reader “Fred Mertz” for the heads up.]